Daily Real Estate News | Tuesday, April 09, 2013

The Obama administration announced the extension or debut of three programs aimed at helping distressed home owners avoid foreclosure. The three initiatives are:Increasing outreach in the Making Home Affordable Program: The U.S. Department of Treasury is partnering with NeighborWorks America as well as the National Foreclosure Mitigation Counseling program to increase support for struggling home owners who seek assistance through the Making Home Affordable Program, which includes the Home Affordable Modification Program (HAMP). HAMP reduces monthly payments by more than $540 each month, on average. “Through the new initiative, housing counseling agencies will help struggling home owners successfully complete and submit application documents to their mortgage company free-of-charge.

Informing the unemployed about programs: The Department of Labor will be encouraging American Job Centers to inform unemployed home owners about federal foreclosure prevention options that are available to them. For example, there is unemployment forbearance through HAMP that allows qualifying home owners who are unemployed to reduce or suspend their mortgage payments for up to 12 months. Continue reading ‘White House Rolls Out 3 Foreclosure Prevention Efforts’

For homeowners in danger of losing their home to foreclosure it is common to feel alone and as though there is no help.  In Manatee and Sarasota Counties homeowners in this situation are finding relief thanks to a dedicated agent trained specifically to help distressed homeowners.  “There are more people who find themselves in this situation than many realize/” says James P. Adkins CDPE of Adkins Florida Group/Keller Williams.

“Once they realize they aren’t alone and that there are options, it’s like a whole new world opens up for them.”  There are a number of ways in which homeowners might avoid foreclosure, even if they are late on their payments.  Loan modifications, in which the bank changes the terms of the loan so that it is more affordable; mortgage forgiveness, in which the bank agrees to eliminate some or all of the amount owed; or short sales in which the bank agrees to sell the home for less than the amount owed are just some of the options available.

As a Certified Distressed Property Expert (CDPE) James P. Adkins is specially trained to help homeowners who find themselves facing foreclosure understand the options available and choose the solution that is right for hem.  “it is important to me that homeowners know that they have option and that they are not alone.” James said. Continue reading ‘More Distressed Homeowners Finding Relief in Bradenton/Sarasota’

 REVIEW THESE SALES AND DESIGN TIPS FOR GETTING YOUR HOME SOLD QUICKLY AND INEXPENSIVELY.

Even with rising values and reduced inventory in certain markets, selling a home remains challenging. Buyers expect not just a shiny new stainless sink but pruned hedges, freshly painted walls, glistening hardwood floors, and more. Making everything look great can cost a pretty penny, and many sellers won’t be able to afford all the suggestions you might make.

We can help you, as a seller prioritize based on the condition of what’s needed most, what buyers in the area typically request, what competing houses offer, and — of course — cost. Here’s a list of 25 affordable, easy-to-make changes.

1. Add power outlets with USB ports in rooms that lack them, especially in the kitchen, bathrooms, and bedrooms where they’re most needed. Younger, more tech-savvy couples and individuals love them.
2. Eliminate acoustic popcorn-style ceilings since they look dated and tacky.
3. Remove exposed posts and half walls. Today’s buyers want more space, and partial walls and posts gobble up room. The only walls that should remain are those that offer privacy or conceal electrical wires or plumbing stacks.
4. Update wiring for the Internet and flat-screen TVs. You don’t have to run CAT-5 through walls, which can be costly and require opening and closing and repainting walls. Instead, find a place to put a wireless router.
5. Clean carpets and wood floors since they’re often the first part of a room that buyers check out; you don’t need to replace them unless they’re in terrible shape. A good carpet steam cleaning or wood floor waxing can be relatively inexpensive, sometimes less than $200.
6. Expand a small kitchen to make it work better and look larger. Two quick fixes: Change the backsplash by adding mirrors, stainless steel, or paint, which will introduce light and views; and add an island, which requires only 30” between counters and the island to pass through comfortably. If there’s not enough room for an island, bring in a rolling cart with pull-out shelves underneath and a wood top.
7. Clear out and clean a garage, a big selling feature.Power wash the floor or paint it if it’s in bad shape, remove dated cabinets, and remove all junk that’s been stored there, so prospects can see how much space they would have for their stuff.
8. Change out corroded or dented door knobs and levers. The replacements don’t have to be expensive but they should look new and clean.
9. Pay attention to landscaping, which can add 7 to 15 percent to a home’s value. Focus on mowing grass, removing crab grass, and eliminating dead plants and tree branches. You would rather have dirt and the potential to paint a picture for the buyers’ mind than a backyard full of dead plants. But if you have extra funds add lots of seasonal color through blooming annuals and perennial plants and remove problems like too much noise from traffic or neighbors by installing an inexpensive fountain with trickling water.
10. Paint exterior windows, doors, gutters, downspouts, and trim, then go inside and paint the home’s trim, doorways, and walls that are in need of freshening. Don’t worry about the colors but consider those that veer toward quiet and comfort such as Benjamin Moore’s Yosemite Sand, Edgecomb Gray, or Carrington Beige. Gray is a hot interior color now. Painting rooms other, lighter colors such as white, yellow, and beige help to bounce and reflect sunlight and use more natural and less artificial light. But in cooler months, dark colors such as deep brown and blue absorb sunlight, thereby reducing heating costs. And don’t forget ceilings, which can be a “fifth wall.” You can improve them with paint or old-style metal or faux-metal tiles. Continue reading ‘25 Quick, Cheap and Easy Home Sale Tips’
    •